Bitcoin Forum

So about a week ago, I threw a stray BTC0.08459316 into a brand new hashnest.com (http://hashnest.com) account to try it out. In this thread I will document my experience on the website. I will update it weekly. Idk if this is an original idea or not but I thought it can't hurt to record this data.

Week#	S7 GHS owned	Price/GHS	Maintenance/Payout	Bitcoins Earned This Week	Bitcoins in Wallet	Current Bitcoin Price
1	220 GHS	BTC0.00040995	44.96%	BTC0	BTC0.0007253	$404.28/BTC
2	220 GHS	BTC0.00035884	44.12%	BTC0.00354308	BTC0.00395303	$413.91/BTC

I'm actually curious about this one... Everybody is shouting that  cloudmining is dead, but i haven't seem much actual numbers about it.

Good luck :)

Looks interesting, I will definitely follow this! :)

I updated it with Week 2 data.
0.0000023007 BTC earned per GHS per day = $0.00095228273 per GHS per day
At this rate, I'm set to break even in just under 24 weeks, or about 6 months.

You seems to forgotten that difficulty will keep on increasing in the future and halongs will occur sometimes this year so you will set to break even longer than what you are expecting. Not to mention if they decided to increase the maintainance fee or the price of bitcoin drop down below $300 again

You will never break even

Only in unlikely event of:

1) Diff will stay at the same level for 6 month
2) BTC price will rise 2 times till 850USD

And I like you investment level of BTC0.08459316

...



Also,


This is just an experiment. That is your hypothesis, lets see if it tests to be true  ;D
BTW, I can sell my GHS for BTC on the Hashnest.com market.

Well, it's not reaaly a hypothesis, it's logic
The difficulty is increasing everyday, increased difficulty  = less btc you will get, the more time required to break even
It's hard to profit from cloudming nowadays, tbh :(
If only you joined the mining scene at 2012, you will be rich

It's true. I cash out all my balance from Hashnest and sold all my Mining Power. Better to finish it with a small loss than a full loss in the future. Clound Mining it's a trap with false promises about BTC profit.

But i think everybody believe that in the beggining and lose some money... Better to start with small money amount for practice first.

As far as what im aware of, hashnet is definitely better than most lefit cloudmining around as you are bound to get profit in long term because they provide you with an exit strategy unlike the other cloud mining service. However if you are looking for a quick ROi and quick  profit then hashnet is definitely not the place

When they launch a new AntS mining power it's surely good. You earn many satoshi daily, but with time, you earn less and less each new day, so when they launch a new AntS you must buy the new one or you won't earn anything from previous mining power tecnology.

The only good point that i see is that you can sell your GH/s anytime and get some money back. Because i don't see any profit with that, i bought each GH/s for X and sold for 0.5X now... And the daily income wasn't sufficient to give me profit in the end.

It is very interesting experience, but is missing very important information - price of your power. I mean price for 1 Ghz of S7. I lost a lot on S5 because of price crush!

That information is included...
Right here

Oh! Sorry!
As i can see you make some copy/paste from some spreadsheet? Am i right?
If yes, maybe will be better do some public google spreadsheet? ..and in last record sum of relations mining/price?

I've got 1k GHs of S5 in there that I left for about a month already. Right now at 88% Maintenance/Payout I'm really starting to think there won't be ROI anytime anymore. I hope the story is different for S7s, is it?

Well if you think that S5 is not profitable anymore you can sell it on the market :)
The good thing about hashnest is that we can sell our miners easily without any hassle at all ;D
Sell that and then Buy S7 with that money and hopefully this time you can ROI it
Cloud mining is sure hard thing to do ::)

Any more updates?  :D

Yes, possibility of exit is very important, but when is coming new miner always is overpriced, and it is very easy to lost on the price drop..